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Views: 37 DOM: 46 Updated: 06.25.24 Posted: 05.28.24 Status: Active

Summary

Price $2,975,000
Built/Renov 1998/2020
Tenant Taco Bell
Cap Rate 5.65%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,108
Lease Start 07-01-2024
#Units 28
Price/SF $1,411.29
Expiration 06-30-2039
Tenant Type Fast Food/QSR
NOI $168,000
R. Term 14.11
Ownership Fee Simple
Rent/SF $79.70
Increases 8.0%/5/yrs
Pop 5Mi 27,222
Lot/AC 0.64
Options 4/5yrs/8%
AHHI 5Mi $92,911

Lease Highlights

  • Taco Bell will be executing a brand-new 15-year lease with 4 (5-year) options to extend at the close of escrow
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by KC Bell (28 units backed)

Location Description

Taco Bell is strategically located on Hester Drive, with access to 3,030 vehicles. The property is adjacent to Motel 6 and conveniently situated near Highway 76, which sees 20,981 VPD. Additionally, it is in close proximity to well-known national tenants including Walmart, Subway, Zaxby's, Dunkin', Burger King, and more. The 5-mile trade area is supported by a population of 27,222 residents...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Taco Bell
  • Guarantor:Franchisee
  • Company:KC Bell
  • # Units:28
  • Tenant S&P: BB+
  • Moody’s: Ba2
  • Stock: NYSE: YUM

About Tenant

Taco Bell is an American-based chain of fast food restaurants originating in Irvine, California in 1962, by founder Glen Bell. Taco Bell is the leading Mexican-inspired, quick-service restaurant...


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Listing Broker

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